Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Eleven Ventures is a venture capital fund founded in 2012, headquartered in Sofia, Bulgaria, with additional offices in Athens, Greece, and Amsterdam, Netherlands. The firm has established itself as one of the most active early-stage investors in Central Eastern Europe, focusing on technology companies in their formative stages. Eleven Ventures has a total fund size of $100 million and has invested in over 200 companies since its inception.
The firm emphasizes its commitment to supporting early-stage startups, particularly in the fintech, healthcare, climate, and future of work sectors. Eleven Ventures has built a strong reputation for its strategic guidance and operational support, helping portfolio companies scale effectively in the Central Eastern European market. Notable milestones include the launch of various programs aimed at fostering innovation and entrepreneurship in the region.
Eleven Ventures invests primarily in early-stage technology companies, specifically targeting the pre-seed and seed stages. The fund typically commits between €250K and €1.5M per investment, focusing on sectors such as fintech, healthcare, climate and sustainability, and the future of work. The firm is open to exploring opportunities outside these core sectors, provided they demonstrate significant market potential and innovative solutions.
The investment strategy of Eleven Ventures emphasizes the importance of market size, team dynamics, and the potential for growth. The firm seeks founders who are not only passionate about their ideas but also possess the capability to execute their vision effectively. Deal structures often include equity stakes, and the firm is known for its willingness to co-invest with other venture capitalists to maximize the impact of their investments.
Eleven Ventures has built a diverse portfolio of over 200 companies, showcasing its commitment to various impactful sectors. Notable portfolio companies include:
This diverse portfolio reflects Eleven Ventures' focus on addressing pressing global challenges through technology and innovation.
Daniel Tomov: Partner at Eleven Ventures, Daniel has extensive experience in venture capital and has led numerous successful investments in the region.
Ivaylo Simov: Partner, Ivaylo specializes in technology investments and has a strong background in scaling startups.
Svetozar Georgiev: Partner, Svetozar brings expertise in operational support and strategic guidance for portfolio companies.
Valeri Petrov: Partner, Valeri focuses on fintech investments and has a deep understanding of the financial technology landscape.
Martin Ouzounov: Partner, Martin has a background in entrepreneurship and venture capital, contributing valuable insights to the firm.
Rene Tomova: Head of Platform, Rene oversees the firm's platform initiatives, enhancing support for portfolio companies.
Roberta Tihomirova: Head of Marketing, Roberta manages the firm's marketing strategies and communications.
Daria Naidenova: Marketing Associate, Daria supports marketing efforts and portfolio communications.
Elena Ivanova: Platform Associate, Elena assists in managing the firm's platform resources for startups.
Belizar Marinov: Investment Principal, Belizar focuses on sourcing and evaluating new investment opportunities.
Veselina Markova: Investment Principal, Veselina specializes in due diligence and portfolio management.
Viktor Minchev: Investment Principal, Viktor has a strong background in technology investments and startup scaling.
Todor Nikolov: Visa Innovation Program Europe Lead, Todor manages the Visa Innovation Program, supporting fintech startups.
To pitch to Eleven Ventures, founders should use the application form available on their website. The pitch deck should include a clear overview of the business model, market opportunity, and team qualifications. Founders are encouraged to provide detailed financial projections and a roadmap for growth.
Response times can vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, as they can enhance the chances of securing a meeting with the investment team.
Eleven Ventures runs several programs aimed at supporting early-stage startups. The Visa Innovation Program, launched in 2018, supports fintech startups across Europe by facilitating partnerships and pilot projects with Visa.
The Elevate program is the first university accelerator in the region, created in partnership with AUBG, aimed at aspiring founders looking to develop their business ideas.
Additionally, the Eleven Alpha program is a three-month initiative designed to help early-stage startups achieve product-market fit, offering a €300K investment for 10% equity.
In recent months, Eleven Ventures has been active in sharing insights and updates through their blog. Notable posts include a report on global expansion by portfolio company Native Teams, highlighting their growth and strategic initiatives. Additionally, the firm announced a new venture partner, further strengthening its investment team.
Eleven Ventures also published an article discussing the strategic focus for Central Eastern European founders, emphasizing the importance of innovation and market understanding in the region. These activities reflect the firm's ongoing engagement with its community and commitment to supporting early-stage technology companies.
What are the investment criteria for Eleven Ventures?
Eleven Ventures focuses on early-stage technology companies in the pre-seed and seed stages, particularly in fintech, healthcare, climate, and future of work sectors. The firm looks for startups with strong market potential, innovative solutions, and capable founding teams.
How can I apply or pitch to Eleven Ventures?
Founders can pitch to Eleven Ventures through their application form available on their website. It is advisable to include a detailed business plan, market analysis, and information about the founding team in the pitch deck.
What makes Eleven Ventures different from other investors?
Eleven Ventures is distinguished by its strong focus on Central Eastern Europe and its commitment to supporting impactful sectors. The firm provides strategic guidance, operational support, and access to a broad network of industry contacts, which can be invaluable for early-stage startups.
What is the geographic scope of Eleven Ventures?
The firm primarily invests in Central and Eastern Europe, with a particular emphasis on Bulgaria, Greece, and the surrounding regions. However, they are open to exploring opportunities in other markets if they align with their investment thesis.
What is the typical fund size and check size for investments?
Eleven Ventures has a total fund size of $100 million and typically invests between €250K and €1.5M in each startup. This allows them to support companies at critical stages of their development.
What kind of post-investment involvement does Eleven Ventures have?
Post-investment, Eleven Ventures actively engages with its portfolio companies by providing strategic guidance, operational support, and facilitating connections within their extensive network. This involvement helps startups navigate challenges and scale effectively.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.